Sack the Economists? On Steve Keen’s Debtwatch

Steve Keen has posted a guest post on his popular Debtwatch website.

Read­ers of this blog will have encoun­tered the idea that near-equilibrium neo­clas­si­cal eco­nomic the­ory is irrel­e­vant to dynamic, far-from-equilibrium, real mod­ern economies, and that the body of the­ory built around the neo­clas­si­cal assump­tions is full of incon­sis­ten­cies.  You will also be famil­iar with the idea that money and debt play cen­tral, dynamic roles in mod­ern economies.

Yet it can be argued there are other equally fun­da­men­tal flaws in the broader stream of the­ory and prac­tice that might be called main­stream eco­nom­ics.

– See more at: http://www.debtdeflation.com/blogs/2013/12/07/sack-the-economists/#sthash.oWYTzwRS.dpuf

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